Wipcapital buys 40% Futuregrowth stake

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SOUTH AFRICA - Financial services firm Wipcapital has acquired a 40% stake in specialist asset management firm, Futuregrowth, from RMB Asset Management, a division of FirstRand Bank. The holding was acquired for R20m ($1.8m).

A further 20% of Futuregrowth’s equity has been set aside for an employee share ownership plan (ESOP) for Futuregrowth management and staff. Futuregrowth, with assets under management of R25bn, ...

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